SINGAPORE terminal operator PSA International handled 86.6m TEU for the year ended 31 December 2020, representing an increase of 1.7% from the previous year.

PSA Singapore contributed 36.6m TEU, a decline of 0.9% from 2019. PSA terminals outside Singapore delivered a total throughput of 50m TEU, increasing 3.7% over 2019.

PSA was formerly the Port of Singapore Authority which had its regulatory functions transferred to the Maritime and Port Authority of Singapore in 1996. PSA Corporation Limited (the corporate successor to the Port of Singapore Authority) was subsequently established in 1997 to manage and commercially operate container terminals and related businesses in the Port of Singapore.

With flagship operations in Singapore and Antwerp, PSA’s global network encompasses over 50 locations in 26 countries around the world. The group’s portfolio comprises 60 deepsea, rail and inland terminals, as well as affiliated businesses in distriparks, warehouses and marine services.

PSA Group revenue increased by 2.5% on higher throughput and business acquisitions during 2020. Profit from operations was lower by 4.2%, and overall net profit for the year decreased by 6.2% from previous year due to lower other income and increase in other operating expenses.

PSA’s balance sheet remains strong with a gross debt equity ratio of 0.58 times at the close of 2020.

Peter Voser, group chairman, PSA International said, “Despite the supply chain shocks in the first half of 2020, the PSA team, together with our partners, rallied to meet our customer needs around the world.

“This enabled us to finish the year on a strong footing with a credible performance, while still keeping safety at the forefront.

“PSA stands ready to continue supporting our customers and partners with strong operational performance and supply chain optimisation solutions amidst the COVID-19 crisis in 2021 and beyond,” he said.

Tan Chong Meng, Group CEO, PSA International, said, “The importance of a seamless and resilient global supply chain has been clearly underscored by the events of 2020.

“Thanks to the dedication and resolve of our management, staff and unions, and in partnership with our customers, authorities and industry associates, PSA kept supply chains operational across our global network, while protecting ourselves, our partners and stakeholders.”

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A wholly owned subsidiary of PSA International recently inked an agreement with German multimodal logistics company Duisburger Hafen AG (duisport), to form a joint venture companyheadquartered in Singapore.

PSA Northeast Asia Supply Chain said the joint venture will invest in multimodal logistics facilities in Asia, enhancing connectivity and trade flows between Europe and Asia.

Drawing on the combined supply chain expertise of PSA and duisport, the new joint venture company will provide customers in Europe and Asia with efficient multimodal, logistics and digital services through Chongqing and the CUIRC rail terminal network.

Erich Staake, CEO, duisport, said, “Our joint venture with PSA is a milestone in the history of the Port of Duisburg. It strengthens our market position in Asia and deepens our ties with one of the fastest growing regions in the global economy.

“Multimodal Investments will become one of the decisive growth drivers for rail freight transport between Europe and Asia,” he said.

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